Latest Eyman spending measure appears headed for ballot

Tim Eyman’s latest measure – which would put an annual cap on the general fund cash that comes into state, county and city governments – appears headed for the fall ballot.

Eyman says he turned in an estimated 314,000 petition signatures Thursday in Olympia for Initiative 1033. The minimum signature requirement is about 120,000, the secretary of state’s office says. According to the measure if money came in over the cap limit it would be used the next year to lower property taxes. Voter-approved taxes would not be subject to the cap.

Critics say I-1033 would constrain spending on government services during a bad economy, a time when it’s most needed.